Call it the 'Nano' effect - HCL claims to have done to computing what the Tata's have done to automobiles. At Rs 14,000, HCL Infosystems has launched what could well be the world's cheapest laptop. CNBC-TV18 finds out if like the Nano, Mileap will catapult HCL into tech history.

If at USD 2,500, you can buy a car, then USD 350 is all it will cost you for a laptop. Aptly called Mileap, this laptop is miles ahead of competition in both cost and size. The no frills version of the Mileap series costs a rupee less than Rs 14,000 and the one with bells and whistles costs Rs 10,000 more.

Like the Tata's, the company says it worked backward to arrive at the figure of Rs 14,000, which is at least Rs 5,000 cheaper than its nearest competitor.

The no frills version, comes with an Intel Celeron processor, a 7-inch LCD monitor and a memory of 512 MB. But at 2 GB, the flash drive is weak to put it mildly. This machine comes loaded only with the Linux version, however, the high end version comes with Vista Home. Also the no frill version comes without the CD or DVD player.

This machine will hit the stores on the January 26, while the company has not given any sales outlook, it's hoping that this destructive product will take its share in the laptop market well over the current 7%.